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RCS - Hercules Site Svcs - Delivery of New Suction Excavators

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RNS Number : 5465V  Hercules Site Services PLC  11 April 2023

11 April 2023

RNS Reach

 Hercules Site Services plc

 

("Hercules" or the "Company")

 

Delivery of New Suction Excavators

 

Hercules Site Services plc (AIM: HERC), a leading technology enabled labour
supply company for the UK infrastructure sector, is pleased to confirm that,
further to the announcement of 19 April 2022, the Company has now taken
delivery of all ten new suction excavators, expanding its fleet to 30
vehicles.

 

Hercules now has one of the largest suction excavator fleets in the UK. The
addition of the ten new vehicles took place following high levels of demand,
which the Company continues to experience. The new vehicles include two Triple
Fan Excavators, which will provide extra capability to Hercules' clients since
the machines are more powerful and dig deeper compared to other suction
excavators.

 

Brusk Korkmaz, CEO of Hercules, said: "Suction excavators provide a more
efficient and safer way of removing debris for digging teams. When we listed
in February 2022, Hercules owned nine suction excavators and the funds raised
contributed in part towards a further eleven vehicles, which were ordered in
2021 for delivery by August 2022.

 

"In April 2022, we took the decision to acquire an additional ten suction
excavators, with the intention of expanding our fleet from 20 vehicles by
August 2022 to 30 vehicles by March 2023.

 

"We took the decision to expand our fleet on the back of the high levels of
demand we were experiencing, which saw us achieve an average utilisation rate
of circa 85%. This continued demand for our services can be partly attributed
to the significant industry acclaim we have received for our involvement in
implementing the newly developed 'Zero-Trim' piles method, which uses a vacuum
excavator to suck out excess concrete from a concrete pile while still wet."

 

 

-ENDS-

 

For further information and enquiries, please contact:

 

 Hercules Site Services plc                                                             c/o SEC Newgate

 Brusk Korkmaz (CEO)

 Paul Wheatcroft (CFO)

 SP Angel (Nominated Adviser and Broker)                                           +44 (0) 20 3470 0470

 Matthew Johnson / Adam Cowl / Harry Davies-Ball (Corporate Finance)

 Grant Barker / Rob Rees (Sales and Broking)

 SEC Newgate (Financial PR)                                                       +44 (0) 20 3757 6882

 Elisabeth Cowell / Ian Silvera / Matthew Elliott                      Hercules@secnewgate.co.uk

 

About Hercules Site Services plc

 

Hercules is a leading tech enabled labour supply company for the UK
infrastructure sector. Founded in 2008, Hercules has an established track
record of profitability and fast-growth and has built a blue-chip customer
base which includes Balfour Beatty, Costain, Kier, Skanska, Dyer & Butler
and Volker Fitzpatrick. The Company has been appointed to provide labour for a
range of high-profile infrastructure projects, such as HS2, due to its agile,
innovative, digital first approach and complete service offering. It is
well-placed to benefit from any government increase in infrastructure spending
and its experienced management team has identified multiple opportunities for
growth.

 

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